**Report of the Trustees and Financial Statements**
**for the Period Ended 31[st] March 2023**
## **for**
## **MEDICAL MISSIONARY NEWS**
Medical Missionary News is a registered charitable organisation in England & Wales Registration number 1200235
**Trustee’s Report** For the 6 months ended 31[st] March 2023
||**Contents**||
|---|---|---|
|||Page|
|Report of the Trustees||1|
|Statement of Financial Activities||8|
|Balance Sheet||9|
|Cash Flow Statement||10|
|Notes to the Cash Flow Statement||11|
|Notes to the Financial Statements||12|
Medical Missionary News is a registered charitable organisation in England & Wales Registration number 1200235
Page 2
**Trustee’s Report** For the 6 months ended 31[st] March 2023
This report shares with you vision and aims of the charity before we start operating. The assets of Medical Missionary News Fund (charity number 229296) will be transferred to this charity later on in 2023 and will seek to develop the good work they have done for many years.
## **Objectives & Activities**
Objectives, purposes and aims
The charity was set up in 2022 for the purpose of supporting those involved in medical work in the underresourced countries of the world and to benefit the public by the relief of poverty and the advancement of religion.
## Vision
Our desire is to support those who are making Jesus Christ known to their local communities and are using the provision of healthcare services as the way of connecting with them.
## Values
The way that we support medical mission have adapted over the years to the changing needs and circumstances of those involved but we remain committed to communicating the love of God through Jesus and the alleviation of suffering. The values that underpin all we seek to do remain the same and are:
- Christ-centred - We strive to make Jesus Christ known to local communities by using healthcare services as the means of connecting with them
- Medical - We want to help those who live in resources poor countries who have little or no access to healthcare
- Professional - We expect high standards of medical, financial and administrative work to ensure the best use of resources
- Impactful - We want what we do to be life-changing to those we minister to
- Sustainable - We seek to ensure that the ministry has a long term future
## What we do
We partner with those in involved in making Jesus Christ known as they bring relief from disease, sickness and suffering in their local community – be it supporting mission hospitals or clinics, providing community health care programmes, caring for the disabled and orphans, developing health education programmes or providing disaster relief.
The ways we do it are through:
_**Encouraging prayer**_ support for the ministries through sharing stories and prayer requests through all our communication channels trusting it will inspire people to pray for the needs and situations that are shared.
_**Giving grants**_ to Christian organisations to enable them to engage in medical mission in their local communities.
_**Shipping supplies**_ such as medicines, medical aids, and equipment to mission hospitals and clinics via containers shipments.
_**Supporting training**_ of medical professionals and students to encourage them to use their medical skills and experience as a way of serving God and reaching others with the good news of Jesus.
Medical Missionary News is a registered charitable organisation in England & Wales Registration number 1200235
Page 3
**Trustee’s Report** For the 6 months ended 31[st] March 2023
## Where we work
We work to help those in resource-poor countries where there is no, or very little, healthcare facilities available to the local community. Therefore, our focus is primarily in Africa, Asia, and Eastern Europe with a little help given to Latin America and we are currently connected with around 70 projects in over 30 countries
## Ensuring our work delivers our aims
We review our aims, objectives and activities each year. The review looks at what we have achieved and the outcome of our work in the previous 9 months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help so that we remain focused on our stated purpose and ensure that is for the public benefit.
## **Achievements & Performance**
The charity was dormant during the period. The charity was set up to succeed Medical Missionary News Fund (charity number 229296) and the assets were not transferred until 1[st] July 2023.
## **Financial Review**
There are no finances to report on.
We have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## Principal funding sources
No funding sources yet but when the transfer is made it will be primarily from donations (from individuals and churches) and legacies.
## Going concern
We have reviewed the circumstances of the charity and consider that it is a going concern, and that there will be sufficient resources available to fund the activities for the foreseeable future.
## Investment policy and objectives
Our investment policy is geared towards a balanced growth with minimum to medium risk with the aim of achieving a reasonable income. Investments will not knowingly made in companies which manufacture or deal in armaments, alcoholic beverages, gambling, pornography or tobacco.
## Investment performance
The charity currently has no investments.
## Reserves policy
Trustees will review the level of reserves brought over from the preceding charity and plan to keep the reserves at £500,000 which equates to more than 2 years' management and administration expenses.
Medical Missionary News is a registered charitable organisation in England & Wales Registration number 1200235
Page 4
**Trustee’s Report** For the 6 months ended 31[st] March 2023
## **Future Plans**
Our desire to support medical mission remains the same as we want to continue to see God at work through His people as they care for the health needs of the communities.
- We will continue to develop our communication platforms to encourage prayerful support for our partners and develop partnerships that will enable us to increase our network.
- We will continue to give grants to support Christian organisations in their ministry as finances permit.
- We are looking to develop our support of medical professionals and students to consider mission as a way of combining their medical skills and faith.
## **Structure, Governance & Management**
## Governing document
The charity is controlled by its governing document, a constitution and is constituted a charity incorporated organisation.
Recruitment and appointment of new trustees
The board of trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee.
Induction and training of new trustees
New trustees are selected because of their Christian beliefs and the expertise and competencies that they are able to offer. No specific training is required apart from the general trustee induction programme that the Charity Commission recommend.
## Organisational structure
The charity is organised so that the trustees meet regularly to manage its affairs. The trustees maintain a constant review of their activities and functions and feel that the present structure is sufficient to meet Medical Missionary News' needs. The day to day management of the charity rested with the director, Grev Parmenter, on transfer of employment from the Trust Fund.
## Wider network
The charity is not part of any wider network.
## Related parties
Transactions with related parties are disclosed in the notes to the financial statements.
## Volunteers
The trustees are grateful to the staff and volunteers who transfer over from the preceding charity so that they carry out the many aspects of the work, including checking and allocating donated medical items, packing, spectacle grading, driving and running the stamp bureau.
## Risk management
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. In addition, other operational and business risks have been examined and systems established to mitigate any significant risk.
Medical Missionary News is a registered charitable organisation in England & Wales Registration number 1200235
Page 5
**Trustee’s Report** For the 6 months ended 31[st] March 2023
## Public benefit
Our main activities and who we try to help are described above under "Achievement and Performance". All our charitable activities focus on achieving our objectives and are undertaken to further our charitable purposes for the public benefit.
## **Administrative Details**
Registered Charity number 1200235
## Principal address
Unit 16 Star West, Westmead Drive Swindon, Wiltshire, SN5 7SW
## Trustees
Raymond Allen Peter Gill Samuel Phillips Jordan Connell David Keith (Chair) Ian Proud Jason Freeman Jane Macnaughtan Christine Sansom
## Bankers
CAF Bank Limited
25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ
Medical Missionary News is a registered charitable organisation in England & Wales Registration number 1200235
Page 6
**Trustee’s Report** For the 6 months ended 31[st] March 2023
## **Statement of Trustee Responsibilities**
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 22 January 2024 and signed on its behalf by:
....................................................................... David Keith – Trustee
Medical Missionary News is a registered charitable organisation in England & Wales Registration number 1200235
Page 7
## **Statement of Financial Activities for the 6 months ended 31st March 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Charitable activities
Other trading activities
3
Investment Income
4
**Total**
**EXPENDITURE ON**
Raising funds
5
**Charitable activities**
Costs in furtherance of charity's objects
6
Management and administration
7
**Total**
**NET INCOME (EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
Net gains/(losses) on investments
Transfer between funds|**2023**
**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
£
£
£
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0|**2022**
**Total**
**Funds**
£
0
0
0
0|
|---|---|---|
|||0|
|||0
0
0|
|||0|
|||0
0|
|||0
0|
|||0|
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 8
## **Balance Sheet At 31st March 2023**
|Notes
**FIXED ASSETS**
Tangible Assets
11
Investments
12
**CURRENT ASSETS**
Debtors
13
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
14
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
Unrestricted Funds
15
Restricted Funds
15|Unrestricted
funds
£
0
0
0
0
0
0
0
0
0
0|Restricted
funds
£
0
0
0
0
0
0
0
0
0
0|2023
Total
funds
£
0
0
0
0
0
0
0
0
0
0
0
0
0|2022
Total
funds
£
0
0|
|---|---|---|---|---|
|||||0
0
0|
|||||0
0|
|||||0|
|||||0|
|||||0|
|||||0
0|
|||||0|
The financial statements were approved by the Board of Trustees on 22nd January 2024 and were signed on its behalf by:
…………………………………… David Keith - Chair of Trustees
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 9
## **Cash flow Statement At 31st March 2023**
|2023
Notes
£
**Cash flows from operating activities**
Cash generated from operations
1
0
Net cash used in operations
0
**Cash flows from investing activities**
Purchase of tangible fixed assets
Purchase of fixed asset investments
0
Sale of fixed asset investments
Interest received
0
Dividends received
0
Net cash provided by investing activities
0
0
0
0
Change in cash and cash equivalents in the reporting
period
Cash and cash equivalents at the beginning of the reporting
period
Cash and cash equivalents at the end of the reporting
period|2022
£
0|
|---|---|
||0
0
0
0|
||0|
||0
-|
||0|
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 10
## **Notes to the Cashflow Statement At 31st March 2023**
## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Adjustments for:**
Depreciation charges
Profit on sale of fixed assets
Gain on investments
Interest received
Dividends received
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Net cash used in operations
**2. ANALYSIS OF CHANGES IN NET FUNDS**
Net cash
Cash at bank
Total
Net expenditure for the reporting period (as per
Statement of Financial Activities)|2023
2022
£
£
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
01/09/2022 Cash flow
31/03/2023
0
0
0|
|---|---|
||0
0
0|
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 11
**Notes to the Financial Statements For the year ended 31[st] March 2023**
## **ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
Income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Legacies are accounted for on receipt.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Allocation and apportionment of costs**
The following specific policies are applied to the resources expended by the charity: Costs of generating funds comprise the costs associated with attracting voluntary income.
Charitable activities costs comprise of expenditure incurred by the charity in delivering medical and other relief supplies to the developing countries of the world
Management and administration expenditure of the charity includes all expenditure not directly related to the charitable activity. This includes costs of renting and running office premises and staff salaries for administrative staff.
The basis of apportionment are:
|Charitable activities|-|Invoiced|
|---|---|---|
|Staff costs|-|Allocated on time|
|Premises costs|-|Invoiced|
|Other costs|-|Invoiced|
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment - 20% on straight-line basis Fixtures and fittings - 33.33% on straight-line basis
Medical Missionary News is a charitable incorporated organisation in England & Wales Registration number 1200235
Page 12
## **Notes to the Financial Statements For the year ended 31[st] March 2023 continued**
## **ACCOUNTING POLICIES continued**
## **Taxation**
The charity is exempt from tax on its charitable activities.
Value added tax is recovered by the charity, and as such is excluded from the relevant costs in the Statement of Financial Activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Foreign currencies**
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme within the National Employment Savings Trust. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Investments**
The investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluations and disposals throughout the year.
## **Activities**
All incoming resources and resources expended derive from continuing activities.
## **Gains and losses**
The statement of financial activities includes all gains and losses in the year.
Medical Missionary News is a charitable incorporated organisation in England & Wales Registration number 1200235
Page 13
## **Notes to the Financial Statements - continued for the 6 months ended 31st March 2023**
## **2 DONATIONS AND LEGACIES**
|Donations
Gift Aid
Legacies
Trusts
Churches
Corporate
**2 CHARITABLE ACTIVITIES**
Reimbursement from missions
**3 OTHER TRADING ACTIVITIES**
Stamp bureau
**4 INVESTMENT INCOME**
Other fixed asset investments - UK listed investments
Deposit account interest
**5 RAISING FUNDS**
Publicity|2023
£
0
0
0
0
0
0
0
2023
£
0
0
2023
£
0
0
2023
£
0
0
0
2023
£
0
0|2022
£
0
0
0
0
0
0|
|---|---|---|
|||0|
|||2022
£
0|
|||0|
|||2022
£
0|
|||0|
|||2022
£
0
0|
|||0|
|||2022
£
0|
|||0|
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 14
## **Notes to the Financial Statements - continued for the 6 months ended 31st March 2023**
## **6 CHARITABLE ACTIVITIES COSTS**
|**CHARITABLE ACTIVITIES COSTS**||||
|---|---|---|---|
|||2023|2022|
|||£|£|
|Gifts allocated to medical mission work|- institutions|0|0|
||- individuals|0|0|
|Equipment and books supplied to medical|- institutions and individuals|0|0|
|mission work||||
|||0|0|
The purpose of the charitable activities was to provide medical and other relief.
Of the £656,651 expenditure in 2023 (2022: £553,524), £565,513 was charged to unrestricted funds (2022: £475,234) and £91,138 to restricted funds (2022: £78,290).
## **7 SUPPORT COSTS**
|Management
£
Management and administration
0
**AUDITORS' REMUNERATION**
Fees payable to the charity's auditors for the audit of the
charity's financial statements|Finance
£
0|Governance
costs
£
0
2023
£
0|Totals
£
0|
|---|---|---|---|
||||2022
£
0|
## **8 AUDITORS' REMUNERATION**
## **9 TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the period ended 31st March 2023.
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 15
**for the 6 months ended 31st March 2023**
## **Notes to the Financial Statements - continued**
## **10 STAFF COSTS**
|2023
£
Wages and salaries
0
Social security costs
0
0
The average monthly number of employees during the year was as follows:
2023
Management and administration
0|2022
£
0
0|
|---|---|
||0|
||2022
0|
No employees received emoluments in excess of £60,000.
The Charity considers its key management personnel comprise the trustees and the Chief Executive Officer. The total employment benefits including employers pension contributions of the key management personnel were £0 for the 6 months.
## **11 TANGIBLE FIXED ASSETS**
|**COST**
At 1st September 2022
Disposals
At 31st March 2023
**DEPRECIATION**
At 1st September 2022
Disposals
Charge for the period
At 31st March 2023
**NET BOOK VALUE**
At 31st March 2023|Plant and
equipment
£
0
0
0
0
0
0
0
0|Fixtures
and fittings
£
0
0
0
0
0
0
0
0
0|Totals
£
0
0|
|---|---|---|---|
||||0|
||||0
0
0|
||||0|
||||0|
|||||
All material fixed assets are used in the support of charitable activities and for the administratration of the charity.
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 16
**Notes to the Financial Statements - continued for the 6 months ended 31st March 2023**
## **12 FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 1st September 2022
Additions
Revaluations
At 31st March 2023
**NET BOOK VALUE**
At 31st March 2023
There were no investment assets outside the UK.
All investments are held to provide an investment return for the charity.|Listed
investments
£
0
0
0|
|---|---|
||0|
||0|
||0|
|||
## **13 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Gift aid tax recoverable
VAT
Prepayments and accrued income|2023
£
0
0
0
0
0|2022
£
0
0
0
0|
|---|---|---|
|||0|
## **14 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
Other creditors
Accruals for grants payable
Accrued expenses|2023
£
0
0
0
0
0
0|2022
£
0
0
0
0
0|
|---|---|---|
|||0|
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 17
## **Notes to the Financial Statements - continued for the 6 months ended 31st March 2023**
## **15 MOVEMENT IN FUNDS**
|**MOVEMENT IN FUNDS**||||||
|---|---|---|---|---|---|
||||At||At|
||||1st September Net movement||31st March|
||||2022|in funds|2023|
||||£|£|£|
|**Unrestricted funds**||||||
|General Fund|||0|0|0|
|**Restricted funds**||||||
|Designated Gifts Fund|||0|0|0|
|Kalene Medical Equipment Fund|||0|0|0|
||||0|0|0|
|||||||
|**TOTAL FUNDS**|||0|0|0|
|Net movement in funds, included in the above are as follows:||||||
||Incoming|Resources|Gains and|Transfers|Movement|
||resources|expended|losses||in funds|
||£|£|£|£|£|
|**Unrestricted funds**||||||
|General Fund|0|0|0|0|0|
|**Restricted funds**||||||
|Designated Gifts Fund|0|0|0|0|0|
|Kalene Medical Equipment Fund|0|0|0|0|0|
||0|0|0|0|0|
|||||||
|**TOTAL FUNDS**|0|0|0|0|0|
## **16 PURPOSES OF FUNDS**
## **General Fund**
The general fund is unrestricted and holds accumulated surpluses for future charitable activities.
## **Kalene Medical Equipment Fund**
This restricted fund provides funds for the purchase of medical equipment for the hospital at Kalene, Zambia.
## **The Designated Gifts Fund**
This fund consists of gifts received for a designated purpose during the year, not paid as at the end of the year.
-14-
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 18
**Notes to the Financial Statements - continued for the 6 months ended 31st March 2023**
## **17 RELATED PARTY DISCLOSURES**
There were no related party transactions for the 6 months ended 31st March 2023 in relation to grants paid.
## **18 OPERATING LEASE COMMITMENTS**
At the reporting end date the charity had outstanding commitments for future minimum lease payments
|Payable within one year
Payable after one year but within five years|2023
£
0
0
0|2022
£
0
0|
|---|---|---|
|||0|
Medical Missionary News is a charitable incorporated organisation in England Wales Registration number 1200235
Page 19